This week, clients have been net buying gold and silver, taking advantage of the lower prices due to the FOMC announcement last Friday. Week on week, we have continued to see a high volume of orders including higher value orders. Goldmoney Wealth’s clients have favoured the London, Swiss, and Singapore vaults this week with less preference being shown for the Hong Kong and Canadian vaults.
Kelly-Ann Kearsey, Dealing Manager at Goldmoney Wealth said that this week has seen precious metals reclaim some of their previous losses due to disappointing US economic data such as the US non-manufacturing new orders, which fell to its lowest since 2013, together with a weaker US Dollar. On Tuesday, gold and silver prices surged with both gold and silver reaching a three-week high as the dollar index slipped down 1.1% to a two-week low.
This post was published at GoldMoney on SEPTEMBER 08, 2016.